PNM Resources (NYSE:PNM – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
A number of other brokerages have also issued reports on PNM. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Wednesday, January 3rd. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research note on Wednesday, January 3rd. Finally, TheStreet lowered PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.75.
PNM Resources Stock Down 1.9 %
PNM Resources stock opened at $36.48 on Wednesday. The stock has a market capitalization of $3.13 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 0.36 and a beta of 0.37. PNM Resources has a 12 month low of $36.34 and a 12 month high of $49.60. The business has a 50 day simple moving average of $41.42 and a 200-day simple moving average of $43.31. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.33 and a quick ratio of 0.27.
PNM Resources (NYSE:PNM – Get Free Report) last issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.24. The firm had revenue of $505.85 million for the quarter, compared to analyst estimates of $908.51 million. PNM Resources had a return on equity of 10.58% and a net margin of 7.33%. During the same period in the previous year, the company posted $1.46 earnings per share. On average, analysts anticipate that PNM Resources will post 2.79 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in PNM Resources by 78.8% during the fourth quarter. Pacer Advisors Inc. now owns 12,901 shares of the utilities provider’s stock worth $537,000 after buying an additional 5,686 shares during the period. Raymond James & Associates boosted its stake in PNM Resources by 226.7% during the fourth quarter. Raymond James & Associates now owns 71,592 shares of the utilities provider’s stock worth $2,978,000 after buying an additional 49,679 shares during the period. SG Americas Securities LLC boosted its stake in PNM Resources by 61.4% during the fourth quarter. SG Americas Securities LLC now owns 66,495 shares of the utilities provider’s stock worth $2,766,000 after buying an additional 25,302 shares during the period. Vanguard Group Inc. boosted its stake in PNM Resources by 0.4% during the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock worth $418,399,000 after buying an additional 40,253 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in PNM Resources by 93.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,319 shares of the utilities provider’s stock worth $1,307,000 after buying an additional 14,132 shares during the period. Hedge funds and other institutional investors own 91.18% of the company’s stock.
About PNM Resources
PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.